I normally pooh-pooh the Paintbrush icon.
I think it's better to use styles, or to multi-select nonconsecutive text (more on that in another blog).
But with graphics styles -- well, I don't like them much because the style imposes a specific size on graphics whether you want it to or not.
So let's say you've got 10 graphics in your document. You've formatted the first one so that it wraps and has .2 of an inch of space around the graphic, and you want the rest to be just like that. Also, the graphics need to be different sizes.
You could reformat each one individually. Or....
1. Select the first graphic.
2. Double-click the paintbrush icon
3. Click on each additional graphic
4. Click the paintbrush icon when you're done
And all your graphics have that same formatting as the first one.